BEIJING, Jan 8 (Reuters): Copper prices fell in London on Monday as the dollar held on to last week's gains and the market awaited Chinese data expected to shine a light on demand prospects in the world's biggest metals consumer.
Three-month copper on the London Metal Exchange (LME) was down 0.8 per cent at $8,396 a metric ton by 1133 GMT after touching its lowest since Dec. 13 at $8,377.50.
"The US dollar remains firm as market expectations for the next US rate cuts are shifting out to May rather than March," said Nitesh Shah, head of commodities and macroeconomic research at WisdomTree. "Base metal prices are facing some downward pressure as a result.
"Later this week we will get Chinese aggregate financing data, which will provide a clue on whether Chinese efforts to stimulate its economy - and by extension commodity demand - are working."
Copper dips on firm dollar
FE Team | Published: January 09, 2024 00:49:30
Copper dips on firm dollar
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